Basis levels improved at a few of the regional grain elevators the Red River Farm Network follows. Compared to one week ago, New Salem saw soybean basis improve by nine cents, Ulen had a 12-cent improvement and Warren’s soybean basis improved by 15 cents. Soybean basis ranged from $1.05 to $1.40 under the March futures contract. Corn basis is unchanged to three cents better with basis levels ranging from 50 to 75 cents under the March contract. Spring wheat basis was mostly unchanged. However, Finley is posting a four cent improvement and Warren is posting a five cent basis improvement. Wheat basis levels range from 42 to 70 under the March futures contract.
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